This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a chiral building block in the development of enantioselective catalysts and ligands, which are crucial for asymmetric synthesis. Its structure, featuring a naphthalene group and a benzyl moiety, makes it valuable in the design of compounds with specific stereochemical properties. Additionally, it is employed in the study of receptor interactions and as an intermediate in the synthesis of biologically active molecules, particularly those targeting neurological or cardiovascular systems. Its hydrochloride form enhances solubility, facilitating its use in various experimental and industrial applications.